Insider Buying: PodcastOne, Inc. (NASDAQ:PODC) Director Acquires 8,700 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 8,700 shares of PodcastOne stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $16,269.00. Following the transaction, the director now directly owns 195,679 shares of the company’s stock, valued at approximately $365,919.73. This represents a 4.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

D Jonathan Merriman also recently made the following trade(s):

• On Wednesday, February 26th, D Jonathan Merriman bought 7,700 shares of PodcastOne stock. The stock was purchased at an average cost of $1.80 per share, for a total transaction of $13,860.00.
• On Wednesday, February 26th, D Jonathan Merriman bought 7,700 shares of PodcastOne stock. The stock was purchased at an average cost of $1.80 per share, for a total transaction of $13,860.00.
• On Monday, February 24th, D Jonathan Merriman purchased 4,700 shares of PodcastOne stock. The stock was bought at an average price of $2.00 per share, for a total transaction of $9,400.00.
• On Thursday, February 20th, D Jonathan Merriman purchased 5,500 shares of PodcastOne stock. The stock was bought at an average price of $2.10 per share, for a total transaction of $11,550.00.

PodcastOne Stock Performance

Shares of PODC opened at $1.72 on Friday. The firm has a market cap of $42.82 million, a PE ratio of -7.17 and a beta of -0.18. The company’s 50 day simple moving average is $2.15 and its 200-day simple moving average is $1.86. PodcastOne, Inc. has a 12-month low of $1.10 and a 12-month high of $2.85.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. PodcastOne had a negative net margin of 11.40% and a negative return on equity of 36.83%. As a group, equities research analysts forecast that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PODC. Citadel Advisors LLC purchased a new stake in PodcastOne in the 4th quarter valued at approximately $52,000. Renaissance Technologies LLC acquired a new stake in shares of PodcastOne in the 4th quarter valued at approximately $26,000. Fleming James B JR purchased a new stake in shares of PodcastOne in the fourth quarter valued at approximately $189,000. Apollon Wealth Management LLC acquired a new position in PodcastOne during the fourth quarter worth $54,000. Finally, International Assets Investment Management LLC lifted its stake in shares of PodcastOne by 92.3% in the fourth quarter. International Assets Investment Management LLC now owns 30,600 shares of the company’s stock valued at $64,000 after purchasing an additional 14,688 shares during the period. 2.87% of the stock is currently owned by institutional investors and hedge funds.

PodcastOne Company Profile

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.